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Why should I buy life insurance?

Many financial experts consider life insurance to be the cornerstone of sound financial planning. It can be an important tool in the following situations: Replace income for dependents. If people depend on your income, life insurance can replace that income for them if you die. The most commonly recognized case of this is parents with young children. However, it can also apply to couples in which the survivor would be financially stricken by the income lost through the death of a partner, and to dependent adults, such as parents, siblings, or adult children who continue to rely on you financially. Insurance to replace your income can be especially useful if the government- or employer-sponsored benefits of your surviving spouse or domestic partner will be reduced after your death Pay final expenses. Life insurance can pay your funeral and burial costs, probate and other estate administration costs, debts, and medical expenses not covered by health insurance. Create an inheritance for your heirs. Even if you have no other assets to pass to your heirs, you can create an inheritance by buying a life insurance policy and naming them as beneficiaries. Pay federal “death” taxes and state “death” taxes. Life insurance benefits can pay estate taxes so that your heirs will not have to liquidate other assets or take a smaller inheritance. Changes in the federal “death” tax rules between now and January 1, 2011, will likely lessen the impact of this tax on some people, but some states are offsetting those federal decreases with increases in their state-level “death” taxes. Make significant charitable contributions. By making a charity the beneficiary of your life insurance, you can make a much larger contribution than if you donated the cash equivalent of the policy’s premiums. Create a source of savings. Some types of life insurance create a cash value that, if not paid out as a death benefit, can be borrowed or withdrawn at the owner’s request. Since most people make paying their life insurance policy premiums a high priority, buying a cash-value type policy can create a kind of “forced” savings plan. Furthermore, the interest credited is tax-deferred (and tax-exempt if the money is paid as a death claim).
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What are the different types of term life insurance policies?

Term insurance comes in two basic varieties—level term and decreasing term. These days, almost everyone buys level term insurance. The terms “level” and “decreasing” refer to the death benefit amount during the term of the policy. A level term policy pays the same benefit amount if death occurs at any point during the term. Common types of level term Yearly- (or annually-) renewable term 5-year renewable term 10-year term 15-year term 20-year term 25-year term 30-year term Term to a specified age (usually 65) Renewable term policies Yearly renewable term, once popular, is no longer a top seller. The most popular type is now 20-year term. Most companies will not sell term insurance to an applicant for a term that ends past his or her 80th birthday. If a policy is “renewable,” that means it continues in force for an additional term or terms, up to a specified age, even if the health of the insured (or other factors) would cause him or her to be rejected if he or she applied for a new life insurance policy. Generally, the premium for the policy is based on the insured person’s age and health at the policy’s start, and the premium remains the same (level) for the length of the term. So, premiums for 5-year renewable term can be level for 5 years, then to a new rate reflecting the new age of the insured, and so on every five years. Some longer term policies will guarantee that the premium will not increase during the term; others don’t make that guarantee, enabling the insurance company to raise the rate during the policy’s term. Some term policies are convertible. This means that the policy’s owner has the right to change it into a permanent type of life insurance without additional evidence of insurability. “Return of premium” In most types of term insurance, including homeowners and auto insurance, if you haven’t had a claim under the policy by the time it expires, you get no refund of the premium. Your premium bought the protection that you had but didn’t need, and you’ve received fair value. Some term life insurance consumers have been unhappy at this outcome, so some insurers have created term life with a “return of premium” feature. The premiums for the insurance with this feature are often significantly higher than for policies without it, and they generally require that you keep the policy in force to its term or else you forfeit the return of premium benefit. Some policies will return the base premium but not the extra premium (for the return benefit), and others will return both.
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Coronavirus disease (COVID-19)

What is COVID-19? COVID-19 is the disease caused by a new coronavirus called SARS-CoV-2. WHO first learned of this new virus on 31 December 2019, following a report of a cluster of cases of ‘viral pneumonia’ in Wuhan, People’s Republic of China. What are the symptoms of COVID-19? The most common symptoms of COVID-19 are Fever Dry cough Fatigue Other symptoms that are less common and may affect some patients include: Loss of taste or smell, Nasal congestion, Conjunctivitis (also known as red eyes) Sore throat, Headache, Muscle or joint pain, Different types of skin rash, Nausea or vomiting, Diarrhea, Chills or dizziness Symptoms of severe COVID‐19 disease include: Shortness of breath, Loss of appetite, Confusion, Persistent pain or pressure in the chest, High temperature (above 38 °C) Other less common symptoms are: Irritability, Confusion, Reduced consciousness (sometimes associated with seizures), Anxiety, Depression, Sleep disorders, More severe and rare neurological complications such as strokes, brain inflammation, delirium and nerve damage. People of all ages who experience fever and/or cough associated with difficulty breathing or shortness of breath, chest pain or pressure, or loss of speech or movement should seek medical care immediately. If possible, call your health care provider, hotline or health facility first, so you can be directed to the right clinic. What happens to people who get COVID-19? Among those who develop symptoms, most (about 80%) recover from the disease without needing hospital treatment. About 15% become seriously ill and require oxygen and 5% become critically ill and need intensive care. Complications leading to death may include respiratory failure, acute respiratory distress syndrome (ARDS), sepsis and septic shock, thromboembolism, and/or multiorgan failure, including injury of the heart, liver or kidneys. In rare situations, children can develop a severe inflammatory syndrome a few weeks after infection. Who is most at risk of severe illness from COVID-19? People aged 60 years and over, and those with underlying medical problems like high blood pressure, heart and lung problems, diabetes, obesity or cancer, are at higher risk of developing serious illness. However, anyone can get sick with COVID-19 and become seriously ill or die at any age. Are there long-term effects of COVID-19? Some people who have had COVID-19, whether they have needed hospitalization or not, continue to experience symptoms, including fatigue, respiratory and neurological symptoms. WHO is working with our Global Technical Network for Clinical Management of COVID-19, researchers and patient groups around the world to design and carry out studies of patients beyond the initial acute course of illness to understand the proportion of patients who have long term effects, how long they persist, and why they occur. These studies will be used to develop further guidance for patient care. How can we protect others and ourselves if we don’t know who is infected? Stay safe by taking some simple precautions, such as physical distancing, wearing a mask, especially when distancing cannot be maintained, keeping rooms well ventilated, avoiding crowds and close contact, regularly cleaning your hands, and coughing into a bent elbow or tissue. Check local advice where you live and work. Do it all! When should I get a test for COVID-19? Anyone with symptoms should be tested, wherever possible. People who do not have symptoms but have had close contact with someone who is, or may be, infected may also consider testing – contact your local health guidelines and follow their guidance. While a person is waiting for test results, they should remain isolated from others. Where testing capacity is limited, tests should first be done for those at higher risk of infection, such as health workers, and those at higher risk of severe illness such as older people, especially those living in seniors’ residences or long-term care facilities. What test should I get to see if I have COVID-19? In most situations, a molecular test is used to detect SARS-CoV-2 and confirm infection. Polymerase chain reaction (PCR) is the most commonly used molecular test. Samples are collected from the nose and/or throat with a swab. Molecular tests detect virus in the sample by amplifying viral genetic material to detectable levels. For this reason, a molecular test is used to confirm an active infection, usually within a few days of exposure and around the time that symptoms may begin. What about rapid tests? Rapid antigen tests (sometimes known as a rapid diagnostic test – RDT) detect viral proteins (known as antigens). Samples are collected from the nose and/or throat with a swab. These tests are cheaper than PCR and will offer results more quickly, although they are generally less accurate. These tests perform best when there is more virus circulating in the community and when sampled from an individual during the time they are most infectious. I want to find out if I had COVID-19 in the past, what test could I take? Antibody tests can tell us whether someone has had an infection in the past, even if they have not had symptoms. Also known as serological tests and usually done on a blood sample, these tests detect antibodies produced in response to an infection. In most people, antibodies start to develop after days to weeks and can indicate if a person has had past infection. Antibody tests cannot be used to diagnose COVID-19 in the early stages of infection or disease but can indicate whether or not someone has had the disease in the past. What is the difference between isolation and quarantine? Both isolation and quarantine are methods of preventing the spread of COVID-19. Quarantine is used for anyone who is a contact of someone infected with the SARS-CoV-2 virus, which causes COVID-19, whether the infected person has symptoms or not. Quarantine means that you remain separated from others because you have been exposed to the virus and you may be infected and can take place in a designated facility or at home. For COVID-19, this means staying in the facility or at home for 14 days. Isolation is used for people with >>Read more
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Coronavirus disease (COVID-19): Vaccines

Is there a vaccine for COVID-19? Yes there are now several vaccines that are in use. The first mass vaccination programme started in early December 2020 and as of and as of 15 February 2021, 175.3 million vaccine doses have been administered. At least 7 different vaccines (3 platforms) have been administered. WHO issued an Emergency Use Listing (EULs) for the Pfizer COVID-19 vaccine (BNT162b2) on 31 December 2020. On 15 February 2021, WHO issued EULs for two versions of the AstraZeneca/Oxford COVID-19 vaccine, manufactured by the Serum Institute of India and SKBio. WHO is on track to EUL other vaccine products through June. The products and progress in regulatory review by WHO is provided by WHO and updated regularly. Once vaccines are demonstrated to be safe and efficacious, they must be authorized by national regulators, manufactured to exacting standards, and distributed. WHO is working with partners around the world to help coordinate key steps in this process, including to facilitate equitable access to safe and effective COVID-19 vaccines for the billions of people who will need them. When will COVID-19 vaccines be ready for distribution? The first COVID-19 vaccines have already begun to be introduced in countries. Before COVID-19 vaccines can be delivered: The vaccines must be proven safe and effective in large (phase III) clinical trials. Some COVID-19 vaccine candidates have completed their phase III trials, and many other potential vaccines are being developed. Independent reviews of the efficacy and safety evidence is required for each vaccine candidate, including regulatory review and approval in the country where the vaccine is manufactured, before WHO considers a vaccine candidate for prequalification. Part of this process also involves the Global Advisory Committee on Vaccine Safety. In addition to review of the data for regulatory purposes, the evidence must also be reviewed for the purpose of policy recommendations on how the vaccines should be used. An external panel of experts convened by WHO, called the Strategic Advisory Group of Experts on Immunization (SAGE), analyzes the results from clinical trials, along with evidence on the disease, age groups affected, risk factors for disease, programmatic use, and other information. SAGE then recommends whether and how the vaccines should be used. Officials in individual countries decide whether to approve the vaccines for national use and develop policies for how to use the vaccines in their country based on the WHO recommendations. The vaccines must be manufactured in large quantities, which is a major and unprecedented challenge – all the while continuing to produce all the other important life-saving vaccines already in use. As a final step, all approved vaccines will require distribution through a complex logistical process, with rigorous stock management and temperature control. WHO is working with partners around the world to accelerate every step of this process, while also ensuring the highest safety standards are met. More information is available here. Will COVID-19 vaccines provide long-term protection? Because COVID vaccines have only been developed in the past months, it’s too early to know the duration of protection of COVID-19 vaccines. Research is ongoing to answer this question. However, it’s encouraging that available data suggest that most people who recover from COVID-19 develop an immune response that provides at least some period of protection against reinfection – although we’re still learning how strong this protection is, and how long it lasts. How quickly could COVID-19 vaccines stop the pandemic? The impact of COVID-19 vaccines on the pandemic will depend on several factors. These include the effectiveness of the vaccines; how quickly they are approved, manufactured, and delivered; the possible development of other variants and how many people get vaccinated Whilst trials have shown several COVID-19 vaccines to have high levels of efficacy, like all other vaccines, COVID-19 vaccines will not be 100% effective. WHO is working to help ensure that approved vaccines are as effective as possible, so they can have the greatest impact on the pandemic. What types of COVID-19 vaccines are being developed? How would they work? Scientists around the world are developing many potential vaccines for COVID-19. These vaccines are all designed to teach the body’s immune system to safely recognize and block the virus that causes COVID-19. Several different types of potential vaccines for COVID-19 are in development, including: Inactivated or weakened virus vaccines, which use a form of the virus that has been inactivated or weakened so it doesn’t cause disease, but still generates an immune response. Protein-based vaccines, which use harmless fragments of proteins or protein shells that mimic the COVID-19 virus to safely generate an immune response. Viral vector vaccines, which use a safe virus that cannot cause disease but serves as a platform to produce coronavirus proteins to generate an immune response. RNA and DNA vaccines, a cutting-edge approach that uses genetically engineered RNA or DNA to generate a protein that itself safely prompts an immune response. For more information about all COVID-19 vaccines in development, see this WHO publication, which is being updated regularly. Will other vaccines help protect me from COVID-19? Currently, there is no evidence that any other vaccines, apart from those specifically designed for the SARS-Cov-2 virus, will protect against COVID-19. However, scientists are studying whether some existing vaccines – such as the Bacille Calmette-Guérin (BCG) vaccine, which is used to prevent tuberculosis – are also effective for COVID-19. WHO will evaluate evidence from these studies when available. What are the benefits of getting vaccinated? The COVID-19 vaccines produce protection against the disease, as a result of developing an immune response to the SARS-Cov-2 virus. Developing immunity through vaccination means there is a reduced risk of developing the illness and its consequences. This immunity helps you fight the virus if exposed. Getting vaccinated may also protect people around you, because if you are protected from getting infected and from disease, you are less likely to infect someone else. This is particularly important to protect people at increased risk for severe illness from COVID-19, such as healthcare providers, older or elderly adults, >>Read more
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Types of Bikes: The Ultimate Bike Buying Guide

Welcome to the Co-op’s own ‘I’m new to cycling and I don’t know what type of bike I should buy’ guide. Here you’ll find the main types of bikes that people tend to speak about, demystified. Think of it as the ultimate bike types guide for beginners! Bike Buying Guide: Different bikes for different activities We usually recommend that you buy a bike for the kind of activity you want it for – although if you want to buy a bike just because you like the way it looks, that’s fine too! Do you want a bike mostly for commuting? Do you want a versatile bike that can handle both tarmac and dirt tracks well? Do you want to dress head-to-toe in lycra and attempt the land speed record? Many people who are new to cycling often opt for a mountain bike, purely because it somehow sounds like the most familiar. However, there’s really no need to buy a mountain bike unless you a) really like mountain bikes for whatever reason or b) want to go mountain biking. Here at the Co-op we tend to divide our bike types into the following categories based on the activity they’re used for: Road bikes: Roads. Mountain bikes: Off road. Hybrid or Commuter bikes: A bit of everything. Cyclocross bikes: A bit of everything, but with a road bike feel. Folding bikes: Commuting, leisure or touring for the short-on-space. Electric bikes: An electric-assisted bit of everything. Touring bikes: designed for carrying loads over longer distances while remaining comfortable for the rider. Women’s bikes: All of the above, designed specifically for women. Kids bike: bikes for kids We’ll look at each of these in turn so you can get a better idea of what bikes are used for what. Road Bikes As the name suggests, road bikes are designed to ride on the road. Can’t all bikes ride on the road, you wonder? They absolutely can. But road bikes are optimised to make road cycling as efficient as possible, and because of that they’d perform terribly on a mountain dirt track. Instead, road bikes are designed to help cyclists get the most out of the road, including the particular geometry (i.e. frame shape) of the bike, the width of the tyres, and the weight of the components. And just in case you were wondering; You won’t be able to buy a road bike with skinny tyres and transform it into a mountain bike by putting big, knobbly tyres on. Mountain bike tyres just won’t fit on, full stop. Defining characteristics: A lightweight frame, skinny tyres, drop handlebars (those are handlebars which curve back down underneath themselves) and a high gear ratio (i.e. The gears are set up to favour the ones that help you go really fast, if your legs and lungs are up to it.) Get a road bike if: You want fast, efficient cycling on tarmac roads for commuting, competing, or for fun. Don’t get a road bike if: You want to take it off the road. Skinny tyres means you won’t really be able to use a road bike on anything other than tarmac. Icy roads can also be a problem for road bikes. If you’re after a road bike, reading up on What Kind of Road Bike Should I Get? might be a useful five-minute read. Mountain Bikes Mountain bikes are designed to go on mountains or on off-road trails, which means they’re chunkier, have knobbly tyres on them, and a frame geometry which makes them better suited for seriously uneven terrain. Defining characteristics: Wide, knobbly tyres for traction, and a wide range of gears to help you get up and over mountains or across fields. Some bikes have front suspension but are rigid at the back (‘hardtail’), and some have front and rear suspension for cushioning jumps and drops (‘full suspension’ or ‘full sus’). Others have neither. Here’s our Guide to full suspension vs hardtail. Get a mountain bike if: You want to go mountain biking or mainly off road. Don’t get a mountain bike if: You want to go fast on tarmac roads, cycle long distances, or mostly knock about town. Hybrid or Commuter Bikes Hybrid bikes, or commuter bikes as they’re also known, are essentially a mixture between road bikes and mountain bikes. They give you the versatility to do a bit of everything. What you sacrifice in terms of speciality, you gain by being able to do what you want, when you want. Defining characteristics: Hybrid bikes have flat handlebars instead of drop handlebars. Some models have front suspension to cushion bumps in the road or on the track, and others don’t. They’re designed with versatility and comfort in mind, so they have the comfortable geometry of mountain bikes but with slicker, narrower tyres. The tyres can be changed for super knobbly tyres if you want to do a bit of off-roading, or slicker tyres if you’re commuting on tarmac, or something in between. Get a hybrid/commuter bike if: Your main use for the bike will be commuting and/or knocking about town, as well as occasionally going off road or mountain biking. Don’t get a hybrid/commuter bike if: You want to go full lycra and ride as fast as possible on roads, or tear down mountain bike trails as dexterously as possible. Cyclocross bikes Also simply known as ‘Cross Bikes’, these are bikes which follow the tradition of road cyclists in the olden days, who would swap their slick road tyres for knobblier tyres and continue to train during the winter months. A cyclocross bike could be the perfect year-round bike for you if you’re looking for a fast road bike that will cope with off-road excursions. Defining characteristics: The easiest to spot is the drop handlebars like a road bike, instead of the flat handlebars of a hybrid. Like a hybrid, there’s also enough clearance (space around the wheel) for knobblier tyres and mudguards. A cross bike has more of a road bike feel >>Read more
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